NSE Nifty was up by 0.09 per cent or 19.40 points to 22,549, while the BSE Sensex was at 74,078 up by 0.17 per cent or 125 points.
A total of 3,218 stocks were actively traded, 1,447 advanced, while 1,657 declined and 114 stocks remained unchanged where 145 stocks hit a 52 week high and 14 stocks hit a 52 week low at 9.30 am on the BSE.
Deven Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open flat on May 22, following GIFT Nifty trends indicating a gain of 14 points for the broader index.
Nifty can find support at 22,450 followed by 22,400 and 22,350. On the higher side, 22,600 can be an immediate resistance, followed by 22,650 and 22,700.
The charts of Bank Nifty indicate that it may get support at 47,900, followed by 47,750 and 47,600. If the index advances, 48,200 would be the initial key resistance, followed by 48,350 and 48,500.
Foreign institutional investors extended their selling on May 21 as they sold Indian equities worth ₹1,874.54 crore. On the other hand, domestic institutional investors bought ₹3,548.97 crore worth of equities on the same day. INDIAVIX was positive yesterday by 6.26 percent and is currently trading at 21.8100.
Yesterday, global markets traded positively with Nasdaq index and S&P500 index closing at all-time high levels. Indian markets are poised to open with a positive gap. Traders with long positions can maintain a trailing stop loss of 22350 on a closing basis. Fresh longs can be considered in dips near 22400 levels.
Major gainers on the NSE at 9.30 am include, Reliance (1.84 per cent), Coal India (1.74 per cent), NTPC (0.98 per cent), SBI (0.95 per cent), Dr Reddy’s (0.92 per cent).
Major losers include, Sun Pharma (-0.94 per cent), Apollo Hospitals (-0.67 per cent), Hero Motocorp (-0.65 per cent), Shriram Finance (-0.64 per cent), Bharti Airtel (-0.62 per cent).
BSE Smallcap was down by 0.17 per cent and Midcap down by 0.20 per cent.